PANews reported on October 31 that, according to The Block, JPMorgan Chase is expanding the application of its Kinexys blockchain from payments and repurchase transactions to the back-office operations of the private equity market. The bank announced on Thursday that its asset and wealth management division, in partnership with fund manager Citco, completed its first transaction using a new system called Kinexys Fund Flow. This system automates the recording of alternative investment fund activity on a private blockchain. The tool tokenizes investor records and uses smart contracts to automatically transfer cash between JPMorgan brokerage accounts and fund managers, replacing the manual reconciliation and wire transfer methods currently dominant in private equity operations. The system runs on the same permissioned Kinexys network that underpins JPMorgan's tokenized deposit and payment products. Kinexys Fund Flow is expected to be fully rolled out early next year, with more features to be added by 2026. Citco stated that the technology can reduce error rates and costs across the industry, while JPMorgan sees it as part of a broader initiative to modernize alternative asset distribution and services.PANews reported on October 31 that, according to The Block, JPMorgan Chase is expanding the application of its Kinexys blockchain from payments and repurchase transactions to the back-office operations of the private equity market. The bank announced on Thursday that its asset and wealth management division, in partnership with fund manager Citco, completed its first transaction using a new system called Kinexys Fund Flow. This system automates the recording of alternative investment fund activity on a private blockchain. The tool tokenizes investor records and uses smart contracts to automatically transfer cash between JPMorgan brokerage accounts and fund managers, replacing the manual reconciliation and wire transfer methods currently dominant in private equity operations. The system runs on the same permissioned Kinexys network that underpins JPMorgan's tokenized deposit and payment products. Kinexys Fund Flow is expected to be fully rolled out early next year, with more features to be added by 2026. Citco stated that the technology can reduce error rates and costs across the industry, while JPMorgan sees it as part of a broader initiative to modernize alternative asset distribution and services.